§514B-85 Preregistration solicitation. (a) Prior to the registration of the project by the developer with the commission, the issuance of an effective date for the developer's public report by the commission, and the delivery of the developer's public report to prospective purchasers, and subject to the limitations set forth in subsection (b), the developer may solicit prospective purchasers and enter into nonbinding preregistration agreements with the prospective purchasers with respect to units in the project. As used in this section, "solicit" means to advertise, to induce, or to attempt in whatever manner to encourage a person to acquire a unit.
(b) The solicitation activities authorized under subsection (a) shall be subject to the following limitations:
(1) Prior to registration of the project with the commission and the issuance of an effective date for the developer's public report, the developer shall not collect any moneys from prospective purchasers or anyone on behalf of prospective purchasers, whether or not the moneys are to be placed in an escrow account, or whether or not the moneys would be refundable at the request of the prospective purchaser; and
(2) The developer shall not require or request that a prospective purchaser execute any document other than a nonbinding preregistration agreement. The preregistration agreement may, but need not, specify the unit number of a unit in the project to be reserved and may, but need not, include a price for the unit. The preregistration agreement shall not incorporate the terms and provisions of the sales contract for the unit and, by its terms, shall not become a sales contract. Notwithstanding anything contained in the preregistration agreement to the contrary, the preregistration agreement may be canceled at any time by either the developer or the prospective purchaser by written notice to the other. The commission may prepare a form of preregistration agreement for use pursuant to this section, and use of the commission-prepared form shall be deemed to satisfy the requirements of the preregistration agreement as provided in this section. [L 2005, c 93, pt of §4]
Structure Hawaii Revised Statutes
514B-4 Separate titles and taxation.
514B-5 Conformance with county land use laws.
514B-6 Supplemental county rules governing a condominium property regime.
514B-7 Construction against implicit repeal.
514B-9 Obligation of good faith.
514B-10 Remedies to be liberally administered.
514B-23 Amendments to governing instruments.
514B-32 Contents of declaration.
514B-34 Condominium map; certification of architect, engineer, or surveyor.
514B-39 Limited common elements.
514B-40 Transfer of limited common elements.
514B-41 Common profits and expenses.
514B-42 Metering of utilities.
514B-44 Contents of deeds or leases of units.
514B-46 Merger of projects or increments.
514B-47 Removal from provisions of this chapter.
514B-51 Registration required; exceptions.
514B-52 Application for registration.
514B-53 Inspection by commission.
514B-54 Developer's public report; requirements for issuance of effective date.
514B-55 Developer's public report; request for hearing by developer.
514B-56 Developer's public report; amendments.
514B-57 Commission oversight of developer's public report.
514B-59 Expiration of developer's public reports.
514B-60 No false or misleading information.
514B-61 General powers and duties of commission.
514B-63 Condominium specialists; appointment; duties.
514B-66 Cease and desist orders.
514B-67 Termination of registration.
514B-70 Limitation of actions.
514B-71 Condominium education trust fund.
514B-72 Condominium education trust fund; payments by associations and developers.
514B-73 Condominium education trust fund; management.
514B-81 Applicability; exceptions.
514B-83 Developer's public report.
514B-84 Developer's public report; special types of condominiums.
514B-85 Preregistration solicitation.
514B-86 Requirements for binding sales contracts; purchaser's right to cancel.
514B-87 Rescission after sales contract becomes binding.
514B-89 Sales contracts before completion of construction.
514B-90 Refunds upon cancellation or termination.
514B-92 Use of purchaser deposits to pay project costs.
514B-93 Early conveyance to pay project costs.
514B-94 Misleading statements and omissions; remedies.
514B-95.5 Announcement or advertisement; publication.
514B-96 Designation of residential units.
514B-96.5 Unit selection; requirements.
514B-98 Sale of residential units; developer requirements.
514B-99.5 Inapplicability of laws.
514B-101 Applicability; exceptions.
514B-102 Association; organization and membership.
514B-103 Association; registration.
514B-105 Association; limitations on powers.
514B-106 Board; powers and duties.
514B-106.5 Service of process.
514B-109 Restatement of declaration and bylaws.
514B-110 Bylaws amendment permitted; mixed use property; representation on board.
514B-111 Judicial power to excuse compliance with requirements of declaration or bylaws.
514B-112 Condominium community mutual obligations.
514B-113 Medical cannabis; discrimination.
514B-121 Association meetings.
514B-122 Association meetings; minutes.
514B-123 Association meetings; voting; proxies.
514B-124 Association meetings; purchaser's right to vote.
514B-124.5 Voting for elections; cumulative voting.
514B-126 Board meetings; minutes.
514B-131 Operation of the property.
514B-133 Association employees; background check; prohibition.
514B-134 Management and contracts; developer, managing agent, and association.
514B-135 Termination of contracts and leases of developer.
514B-136 Transfer of developer rights.
514B-137 Upkeep of condominium.
514B-138 Upkeep of condominium; high-risk components.
514B-139 Upkeep of condominium; disposition of unclaimed possessions.
514B-140 Additions to and alterations of condominium.
514B-141 Tort and contract liability; tolling of limitation period.
514B-142 Aging in place or disabled; limitation on liability.
514B-144 Association fiscal matters; assessments for common expenses.
514B-145 Association fiscal matters; collection of unpaid assessments from tenants or rental agents.
514B-146 Association fiscal matters; lien for assessments.
514B-147 Association fiscal matters; other liens affecting the condominium.
514B-148 Association fiscal matters; budgets and reserves.
514B-149 Association fiscal matters; handling and disbursement of funds.
514B-150 Association fiscal matters; audits, audited financial statement.
514B-151 Association fiscal matters; lease rent renegotiation.
514B-152 Association records; generally.
514B-153 Association records; records to be maintained.
514B-154 Association records; availability; disposal; prohibitions.
514B-155 Association as trustee.
514B-157 Attorneys' fees, delinquent assessments, and expenses of enforcement.
514B-162.5 Voluntary binding arbitration.